Author: Karikari Daniel

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Karikari Daniel

I am an avid crypto and blockchain content writer with over 3-years of experience. I am open to writing your PR, blog, news articles, and other crypto-related content anytime.

Articles by Karikari Daniel

Bloomberg reports that Alameda invested $1.15 billion in Genesis Digital

2 days ago 1 min read

Alameda Research, a trading firm affiliated with the troubled exchange FTX, has invested $1.15 billion in cryptocurrency miner Genesis Digital Assets. According to documents obtained by Bloomberg that identified FTX and Alameda’s venture portfolio, this was Alameda’s and FTX’s largest venture investment, valued at $5.5 billion in an April funding round. Alameda invested in the cryptocurrency miner four times. It invested around $100 million in the miner last August. It put in $550 million in January, $250 million in February, and $250 million in April. The crypto miner is unrelated to Genesis Trading, whose loan unit halted redemptions following FTX’s

Trader Joe decentralized exchange is deploying Avalanche DEX on Arbitrum

3 days ago 1 min read

Trader Joe, a decentralized exchange, is going live on the Ethereum scaling network Arbitrum. Since the company’s founding in 2021, this is Trader Joe’s first deployment on a new chain. According to DeFiLlama, Trader Joe has the highest overall trading volume across all applications on Avalanche, but this volume has significantly decreased since June. In the coming days, Trader Joe will launch on Arbitrum’s testnet, with a mainnet launch anticipated early in 2019. The scope of Trader Joe’s Arbitrum debut will be constrained. Only Avalanche will offer features like its native token JOE, the lending platform Banker Joe, and the

The Indonesian central bank releases a whitepaper on digital rupiah

4 days ago 1 min read

As the country seeks to “advance digital transformation,” Indonesia’s central bank has released a whitepaper outlining plans for its central bank digital currency (CBDC). The central bank, Bank Indonesia, stated in a whitepaper released on Wednesday that Project Garuda, the national initiative to develop a digital rupiah, will be carried out in three stages, with wholesale digital rupiah being examined first. The agency will then test the digital rupiah for retail use and develop use cases for distribution and collection, according to the statement. The central bank also stated that it needs to collaborate with the international central banking community

SBF says FTX had a 50% chance if Binance’s CEO, Changpeng Zhao, had not expressed concerns

5 days ago 2 mins read

In recent interviews, Sam Bankman-Fried, the founder of the infamous crypto exchange FTX, has spilled quite a bit of tea. The man once known as the crypto mogul has revealed that he has lost almost all of his wealth. SBF told Axios that the last time he checked his bank account, it held $100,000. This represents a more than 99% drop in his net worth, which was once estimated to be more than $16 billion prior to the collapse of FTX. Furthermore, the former FTX CEO’s fortune peaked at nearly $26.5 billion at one point. This, however, came crashing down

Bitfinex has the most Tether (USDT) at 60%, and exchange balances have surpassed the ATH

5 days ago 1 min read

Despite losing 1% of its USD peg recently, Tether has 60% of its total supply spread across multiple exchanges, with Bitfinex holding the largest share. Digital assets are being offloaded from exchanges and finding their way into cold wallets as the cryptocurrency market becomes more bearish. However, Bitfinex’s stablecoin inflows are quite different. According to on-chain data provider Glassnode, Tether (USDT) holdings on the exchange surpassed $11 billion on November 29. This amount accounts for a sizable portion of the total USDT share held across major cryptocurrency exchanges, which is estimated to be around $18 billion as of this writing.

Phantom Wallet adds Ethereum and Polygon support

5 days ago 1 min read

Phantom, the largest wallet on Solana, has announced plans to expand to Ethereum and Polygon. It aspires to be Solana’s MetaMask. With the latest deployment from Phantom, Solana’s largest wallet, popular non-custodial wallets such as MetaMask may have a competitor breathing down their neck. Phantom is a wallet and browser extension that manages cryptocurrencies and provides access to decentralized services via the Solana blockchain. A Series B funding round was announced in the first quarter of 2022, netting the project $109 million from leading venture capital firms. Moving on to the wallet, Phantom pledged support for two competing proof-of-stake blockchains.

South Korean exchange prohibits employees’ families from trading crypto

6 days ago 1 min read

Dunamu, the South Korean company that operates the Upbit exchange, has extended trading bans to relatives of its executives and employees. According to local media, the move is part of an effort to improve ethical management in the cryptocurrency market. A spokesperson for Dunamu told the Korea Times: “We came to strengthen the regulation since Aug. to be commensurate with our status as the most trusted digital asset exchange that meets global standards.” In addition, the media sources noted that the measure has been in place since August. Previously, the rule only applied to staff, but Dunamu has reportedly expanded the

Civil unrest in China may cause Bitcoin to fall below $16,000

6 days ago 1 min read

Bulls in Bitcoin (BTC) have managed to keep the asset’s price above $16,000, extending its consolidation around that level. Notably, Bitcoin’s prospects for a rally have been hampered by coronavirus restrictions protests in China, causing new market turmoil. Indeed, Kitco News analyst Jim Wyckoff noted on November 28 that Bitcoin bears still have a near-term technical advantage, with the asset potentially falling below $16,000. He said, “While the BC bulls have stabilized prices since they hit a two-year low last week, the bulls are disappointed BC prices have not seen safe-haven demand amid the China civil unrest over the weekend.

Nigeria seeks to distinguish between digital assets and cryptocurrency.

1 week ago 2 mins read

According to a Bloomberg report, Nigeria is attempting to advance digital asset trading in the country. But like some Asian countries, it is distinguishing between digital assets, which can be broadly defined and may include central bank digital currencies (CBDCs), non-fungible tokens (NFTs), privately issued stablecoins, and cryptocurrencies. The Nigerian Securities and Exchange Commission (SEC) Director-General, Lamido Yuguda, has joined other regulators, including those in South Korea, in attempting to clarify the distinction between digital assets and virtual currencies or cryptocurrencies. Yuguda stated that the country will encourage investment in “sensible digital assets” with investment protection — without providing further

“Binance is not a Chinese company, we are not related to China at all,” says CEO CZ

1 week ago 1 min read

Chengpang Zhao (CZ), the CEO of Binance, the largest crypto exchange in the world, stole the show on November 24, 2022. Basically, since CZ made a bid to acquire Voyager, the bankrupt U.S.-based company that specializes in lending and financing for cryptocurrencies, he has been inundated with inquiries. Following up, FTX and Binance each made a bid to buy Voyager’s assets. In these terms, the FTX platform outperformed Binance U.S. and managed to secure the bid. All of this happened before the tragic event of the FTX platform’s failure and collapse. As a result, now that FTX is entirely out

Indian crypto exchange CoinDCX reveals its proof of reserves with Shiba Inu as its 3rd largest holding

2 weeks ago 1 min read

The cryptocurrency exchange in India, CoinDCX, published its proof of reserves on November 24, with Shiba Inu as its third-largest holding. With a comprehensive list of wallet addresses, the public can now access CoinDCX’s on-chain and off-chain assets, according to a company publication on CoinDCX holds Ethereum (ETH) as its largest holding followed by Bitcoin (BTC) as its second largest holding. Surprisingly, Shiba Inu, the second popular memecoin comes third on the list of the crypto exchange. On top of that, the Indian crypto exchange intends to publish monthly updates on the ratio of its reserves to liabilities. Sumit

10,000 BTC connected to the infamous Mt. Gox hack started moving money, reawakening seven-year-old Bitcoin

2 weeks ago 1 min read

A cryptocurrency wallet connected to the infamous Mt. Gox hack started moving money, reawakening seven-year-old Bitcoin. On November 23, a Bitcoin wallet linked to the BTC exchange was activated. The 2014 Mt. Gox hack-related wallet recently completed its biggest transaction since August 2017. A total of 10,000 bitcoins, worth about $167 million, were transferred to two unknown recipients. 3,500 BTC were divided between the transactions and transferred to various wallets. A single address received the remaining 6,500 BTC. Ki Young Ju, the creator of CryptoQuant, observed the bitcoin transfers. He noted that it wasn’t a government auction or something similar,